Thursday, 2 June 2016

Tempo Money Transfer strengthens its positions in Africa

International remittances provider, Tempo Money Transfer, has significantly strengthened its position in Africa. The Paris-headquartered company successfully completed an integration project, with Senegal-based plateform, Wari.

The completion of the joint project enables clients to send funds from Tempo’s locations in France and Germany and receive it in financial institution branches, in 18 African countries including Benin, Burkina Faso, Ivory Coast, Niger, Tanzania and Togo.

The number of financial institutions covered includes 3 banks in Ivory Coast, 6 in Burkina Faso, as well as 4 banks and the nation-wide post service in Benin.

The number of new locations where clients can collect cash, is almost 600 in these 3 countries alone.

In Germany and France, the European-licensed company operates over 100 agent locations.

It is yet another large-scale Tempo project, in Africa. In August last year, the France and Germany – based operator started operations in Guinea, Senegal, Gambia, Nigeria, Mauritania and Sierra Leone.

The number of locations where Tempo services became available, exceeded 1000 in Senegal, with the country’s 45 cities and towns covered.

In Guinea, the number of locations is now over 500, in 33 provinces. 50 locations are available in Nigeria, 20 in Gambia and 3 in the capital of Sierra Leone.

At the beginning of 2015, Tempo completed a large-scale project in Morocco to start pay-out services in 2,600 locations.

In his comments on the high volume of business developments in Africa, the president for Tempo Money Transfer, Mr. Jeffrey Phaneuf said that the economies of many African countries, vitally depend on remittances.

“The population in the vast number of countries [in the continent] depends on the money, their loved ones send from Europe, particularly from Germany and France. This makes the development of money transfer corridors in Africa, a very important task and gives it a significant social role,” he said.

Tempo has diligently been working on their services, to facilitate financial inclusion for people with lower income, he said.

“One of our main priorities is providing European quality and reliability, with an accent on affordable transaction costs. This makes for effective decrease in the black market, bringing the transactions into the open, regulated sphere. This benefits the host country's economies and our customers, as well.”

One of the most ambitious money transfer market players in the EU field, Tempo Money Transfer operates in over 120 countries worldwide. Its services are available in over 190 000 locations, offering its clients services of genuine European standards.

Besides money transfers, the product spectrum includes remote top up of mobile phones globally and bill payment.

Tempo France has registered its trademark with OHMI, and is a member for the IAMTN.

About Me

The International Association of Money Transfer Networks is the only global international trade organisation that represents Money Transfer Industry / Payment Institutions providing cross border payments. Founded in 2005, provides a platform for industry partners to come together to discuss common challenges, industry initiatives, and create opportunities. IAMTN works closely with governments, regulators, regional associations and all other stakeholders to champion the creation of the most effective, safe, reliable and efficient payment system.